SUNRISE, FL / ACCESSWIRE / September 17, 2015 / US STEM CELL, Inc. (in transition from Bioheart, Inc. (BHRT.OB)) – announces today that “insiders” led by Dr. William P. Murphy, Jr., Chairman and Mike Tomas, President and CEO, intend to purchase, in the open market, up to 5% of the issued and outstanding Common Stock of the Company. The planned insider purchases are subject to customary restrictions based upon any of the participant’s knowledge of material non-public information and are further subject to federal securities disclosure rules. As the planed insider purchases are to be executed by individuals, US STEM CELL cannot guarantee the number of shares to be purchased or the time frame in which these shares will be bought in the open market.
Aortic surgeon Dr. Ali P. Shahriari organized Ascyrus Medical, LLC in January 2015 to address the unmet need for treating patients with aortic dissections and ascending arch aneurysms. An aneurysm is a sac formed by an enlarged or weakened wall of an artery. The aneurysm will enlarge and cause a rupture or a tear, called an aortic dissection, often resulting in a fatal outcome. The repair of an aortic dissection and ascending arch aneurysm requires open-heart surgery. In response to this medical need, Dr. Shahriari has invented and patented the Ascyrus Medical Hybrid Graft (AMHG). The AMHG enables surgeons easily to implant the graft, making the operation less hazardous. The most distinguishing feature of the AMHG is in its ability to reattach the dissection flap in the aorta, promote healing of the aortic wall. This unique proprietary approach cures the patient from long-term complications of an aortic dissection. According to the US Center for Disease Control and Prevention, Aortic disease is the 13th most common cause of death in the Western population. Ascending aneurysms and aortic dissections are detected in over 37,000 individuals annually in the US. The European market is slightly smaller in size, while Asia is the largest market.
US STEM CELL also reports that as part of its January 13, 2015 meeting, the Board of Directors approved a corporate stock repurchase plan; subsequently, the Company has purchased 23.8 million Common Stock shares. The purchases were made in the open market and are accounted for as Treasury Stock. Independent of the above insider stock purchase plan, the Company may, from time to time, continue with its own stock purchases.
“Our confidence is high,” stated Dr. Murphy, Chairman of US STEM CELL, Inc. “Market activity surrounding our publicly traded Common Stock has provided an attractive opportunity for insiders, as it does for all investors, to benefit from our strategic efforts to build US STEM CELL into a world class company. We believe the opportunity
for extraordinary investment gains exists and we plan, within the regulatory guidelines, to actively seize upon the opportunity to increase our ownership stakes in the Company.”
About U.S.Stem Cell, Inc.
US Stemcell, Inc. (formerly Bioheart, Inc.) is an emerging enterprise in the regenerative medicine / cellular therapy industry. We are focused on the discovery, development and commercialization of cell based therapeutics that prevent, treat or cure disease by repairing and replacing damaged or aged tissue, cells and organs and restoring their normal function. We believe that regenerative medicine / cellular therapeutics will play a large role in positively changing the natural history of diseases ultimately, we contend, lessening patient burdens as well as reducing the associated economic impact disease imposes upon modern society.
Our business, which includes three operating divisions (US Stem Cell Training, Vetbiologics and US Stem Cell Clinic) includes the development of proprietary cell therapy products as well as revenue generating physician and patient based regenerative medicine / cell therapy training services, cell collection and cell storage services, the sale of cell collection and treatment kits for humans and animals, and the operation of a cell therapy clinic. Management maintains that revenues and their associated cash in-flows generated from our businesses will, over time, provide funds to support our clinical development activities as they do today for our general business operations. We believe the combination of our own therapeutics pipeline combined with our revenue generating capabilities provides the Company with a unique opportunity for growth and a pathway to profitability.
Forward-Looking Statements: Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “to,” “plan,” “expect,” “believe,” “anticipate,” “intend,” “could,” “would,” “estimate,” or “continue” or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forwardlooking statements represent our management’s beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including the section entitled “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2013, and its Quarterly Report on Form 10-Q.